Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Recently, Zacks.com users have been paying close attention to IonQ (IONQ). This makes it worthwhile to examine what the stock has in store.
Nvidia's (NVDA -0.02%) CEO made a comment that caused these stock prices to crash.
Despite its less-than-stellar start, IonQ (IONQ -39.00%) stock ended 2024 on a high note: It closed 237% above its 2023 closing price, according to data from S&P Global Market Intelligence. Continued triple-digit revenue growth not only verified commercial demand for the company's quantum-computing technology, but got investors' attention as well.
When investors buy growth stocks, they obviously expect those tickers to gain value. They don't necessarily have an upside target in mind though.
IonQ (NASDAQ:IONQ) is arguably the leading stock in the quantum computing space.
IonQ (IONQ -38.33%) stock is getting crushed in Wednesday's trading. The quantum-computing specialist's share price was down by 38.3% as of 2:38 p.m.
IonQ shows promise in quantum tech, but high valuation and competition warrant patience. Consider holding or awaiting better entry points in 2025.
During the early premarket trading on Wednesday, it looks like comments from the Nvidia CEO during the previous session are weighing on quantum computing companies. Also, it is worth noting that yields in the US continue to rise, making this a difficult short-term environment for these stocks.
Quantum computing companies have surged recently but Nvidia CEO Jensen Huang had a disappointing message for the sector.
IonQ Inc IONQ continues to electrify the markets, with its stock soaring 290% over the past year and 30% in just the last month.
Quantum computing is going through something analogous to the 1970-80s video cassette format wars, a battle in which adult entertainment helped crown VHS as the winner.